Founding: Instacart was founded in 2012 by Apoorva Mehta in the San Francisco area.

Basic Service: Initially, it operated as a basic service, relying primarily on word of mouth for promotion.

Essential Service: During the COVID-19 lockdown, Instacart became an essential service for millions of Americans confined to their homes.

First Monthly Profit: In April 2020, Instacart recorded its first monthly profit, netting $10 million.

Rapid Growth: The company added 300,000 more shoppers (responsible for picking up and delivering groceries) in the first half of 2020, reaching a total headcount of 350,000 by year-end. Grocery sales soared to $35 billion

Revenue Surge: Instacart’s sales skyrocketed, increasing by 229.7% from 2019 to 2020 (from $7.1 billion to $23.42 billion).

Net Profit: In 2022, Instacart achieved a net profit of $428 million.

Active Users: The platform had an estimated 13.7 million active users in 2022.

Valuation Fluctuations: Despite its success, Instacart’s valuation experienced fluctuations, dropping from a high of $39 billion in 2021 to $9.3 billion in 2023

Advertising and Commercial Platform: Instacart is focusing on building out its advertising and commercial platform.

Delayed IPO Plans: While an IPO was initially planned, it has been delayed as the company strategizes for sustained growth.